CMA CGM has improved its inland logistics offering by acquiring Continental Rail, one of the leading rail operators in Spain, through a purchase share agreement.
In a statement, CMA CGM said the agreement was signed on 30 June and is worth approximately €25 million ($29.57 million); it will be closed during the early part of Q3 2021.
This move into rail activity in Spain strengthens CMA CGM’s transport and logistics business, allowing it to offer its customers a range of comprehensive, agile and customized solutions, complementary to its current deep sea and short sea services, supporting its supply chain integrated solutions, it said.
Christine Cabau-Woehrel, Executive Vice President Industrial Assets and Operations of the CMA CGM Group, said, “Continental Rail represents a major new component of the CMA CGM Group’s inland strategy, in both operational and commercial terms.
“This expansion is a new milestone in the Group’s strategic development, with the aim of providing its customers with better ways through a complementary range of services covering both shipping and logistics.”
